TORONTO, ONTARIO -- (Marketwired) -- 05/22/13 -- Altus Group Limited (TSX: AIF) ("Altus") and ARGUS Software ("ARGUS") today announced the winners of the fourth annual ARGUS University Challenge. The awards recognize students from leading universities who have applied their real estate knowledge to solve real world investment analysis scenarios.
For the second year in a row, York University received first place. Second place was awarded to the University of San Diego and third place went to Florida International University. The teams were judged based on their ability to prepare a model using ARGUS DCF. The winners were chosen from a group of twenty-one entries.
"We are proud of our students for winning the ARGUS University Challenge for the second time, in particular because our academic curriculum emphasizes case competitions as a way for students to maximize their learning," said Andre Kuzmicki, Executive Director, Program in Real Estate and Infrastructure, Schulich School of Business. "The ARGUS Challenge is an amazing event because of the number of great schools that participate. We plan to be back next year."
The teams were evaluated on their ability to complete a case study entitled Urban Regeneration: The Springfield Monorail Redevelopment. Written by Sara Wilkinson, Associate Professor, University of Technology, Sydney, this case study provided students with the challenge of considering all factors that must be taken into account when evaluating a commercial real estate investment.
"The ARGUS University Challenge was a great experience for all team members not only to get familiar with the software but also to see its application for decision making," said Hosup Lee, MBA 2013, CFA candidate. "Going into the competition, the team was certainly motivated to do our best given Schulich team's performance last year, and we are proud to defend the title. The classes provided in Schulich's Program in Real Estate and Infrastructure prepared us well to tackle the development case from multiple angles, and it was a great opportunity to use what we learned outside the class setting."
The winners were selected by a judging panel consisting of leading industry experts including: Ryan Bernard, Corelogic; Vanessa Egan, CBRE; Jeff Fisher, Homer Hoyt Institute and Edward Galka, Altus Group.
"For the past four years, our University Challenge has given students the opportunity to solve real issues in a fun and competitive way," said Lynn Clarke, Vice President of Client Services, ARGUS Software. "Our goal with this Challenge, and with our university programs, is to prepare the next generation of real estate professionals with the tools and skills to solve the issues that they will face in their real estate careers."
The next ARGUS University Challenge will utilize the most up to date valuation and asset management tool, ARGUS Enterprise. "Staying with our mission to educate using the latest in technology, we will offer ARGUS Enterprise as the platform of choice for university programs," said Lynn Clarke.
A complete listing of the winners of the 2013 ARGUS University Challenge:
First Place: York UniversityAcademic Sponsor: Andre KuzmickiTeam Members: Christina Giannone, Simon La, Hosup Lee, David Lyons and PhilRistevskiSecond Place: University of San DiegoAcademic Sponsor: Charles TuTeam Members: Matt Bean, Evan Lippow, Anthony Ly, Nick Norris and AriWeinsteinThird Place: Florida International UniversityAcademic Sponsor: George WuTeam Members: Adam Dahari, Kevin Gibbons, William Lee, Juan Morales andZavier Moreno
Honourable mentions were given to Covenant University from Nigeria, and NYU. Altus Group recognizes all of the teams that participated in the 2013 ARGUS University Challenge and thanks them for their effort and hard work.
About ARGUS Software
ARGUS Software is the leading provider of software and solutions for analyzing and managing the value of real estate investments worldwide. ARGUS Software has a Global client base, consisting of over 90,000 users, and has been dedicated to providing solutions to the commercial real estate industry for over 25 years. The ARGUS Software portfolio includes industry-standard products, including ARGUS Enterprise, the most open and integrated platform for valuation, budgeting and asset management solutions.
About Altus Group Limited
Altus leads the global real estate industry in offering professional real estate advisory services, data solutions and intelligence about an organization's assets, generating a wealth of knowledge and insight. With a staff of over 1,700, Altus has a network of over 50 offices in a number of countries worldwide, including Canada, the United Kingdom, the United States, Australia and China. We operate five interrelated Business Units, bringing years of experience and a broad range of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Property Tax, Geomatics and ARGUS Software. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.
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Altus Group Limited
VP, Investor Relations and Corporate Communications